Presumably it will be the same with reforestation. With the fire hazard lessened there will remain the obstacle of overtaxation on property returning no income with which to meet it. The public will doubtless soon see that this is bad for the community, but will hesitate to forego present revenue in order to reap greater future revenue until convinced that the owner will actually reforest if given the chance. Even if no actual desire to take advantage is ascribed, there may be fear that he will make no active effort to start and protect the second crop, but will merely continue the course of least expense in the hope that a new forest will establish itself, with little to lose if it fails. Before he will receive the encouragement he deserves, he must prove his good faith. The surest way to do this is to begin actual work now, where he can without certainty of failure. Unfortunately, this is often impossible, but he can at least study and experiment so he can argue convincingly that mutual success will follow reasonable encouragement. CIRCUMSTANCES DETERMINE PROFIT Let us assume, then, that it is best for the lumberman to start the practice of forestry for the purpose of strengthening his position and getting the most favorable conditions possible for its general adoption and continuance. How much does he depend upon success in this? Obviously, early public favor will hasten and add to the security of forest growing as a business, but is it absolutely essential? Do existing conditions and inevitable future conditions, regardless of public intelligence, furnish premises upon which we can calculate certain profit in some degree? This depends upon the circumstances of the individual investor. Without an expectation of more favorable fire and tax influences, reforestation cannot be universally recommended as a business proposition. Many timber owners are not warranted in undertaking it. Not enough are warranted in doing so to insure the future timber supply upon which public welfare depends. Nevertheless, there are conditions under which it is a good investment. It is even probable that for those who are well situated, the very obstacles which deter others will be advantageous through reducing competition. _This fact is of peculiar significance to the public, for if the latter fails to stimulate reforestation generally it will play directly into the hands of the few who are independent of encouragement_.